News
UK - Creative Capital Fund backs performance company with EUR 2.53m
The Creative Capital Fund has led a EUR 2.53m fund-raising for The Creative Experience Company Ltd. The investment was led by Leisure and Media VCT Plc, which is managed by North Atlantic Value LLP, part of the J O Hambro Capital Management Group. The...
UK - Boots bidding war on
A bidding war has broken out for Alliance Boots, the FTSE 100 retail and pharmaceutical group. After KKR upped its offer for Alliance Boots to ТЃ10.90 per share in an attempt to see off a rival ТЃ10.85 per share bid from Terra Firma, Terra Firma trumpted...
EUROPE - ECB survey says private equity poses limited systemic risk to banking sector
European leveraged buyout activity poses a limited systemic risk to the European banking sector, says a report by the Banking Supervision Committee of the European Central Bank.
ITALY/FRANCE - Eurazeo and Banca Leonardo join forces to invest in Italy
French private equity firm Eurazeo and Italian investment boutique Banca Leonardo have launched Euraleo, a 50/50 joint venture exclusively dedicated to the Italian private equity market.
Quote'' - Peter Cornelius, Head of Research at AlpInvest Partners
‘Even if default rates go up, they will be nowhere near the levels seen previously,’ said Peter Cornelius this morning at the Benelux unquote" Private Equity Congress in Luxembourg. He explained that in the early 1990s and in 2001 default rates hit the...
EUROPE – US interest in European offers co-invest opportunities but increases valuations
тThe sign of a bubble is when the IPO market goes from push to pull,т said Gerard Lopez this morning at the Benelux unquote" Private Equity Congress in Luxembourg. The Skype backer explained that valuation levels are increasing and cited the example that...
EUROPE – Pipeline of EUR 10bn funds
There is a pipeline of mega funds coming to market in the coming months, according to Stef Oostvogels at law firm Oostvogels Pfister Roemers, speaking at the Benelux unquote" Private Equity Congress in Luxembourg this morning. He indicated that many are...
FRANCE - EdRIP backs BestofMedia with hybrid deal
Edmond de Rothschild Investment Partners (EdRIP) invested EUR 2m in equity in an a-typical acquisition financing deal, allowing online IT publisher BestofMedia to Tom’s Hardware Guide.
UK - Aberdeen Asset Managers Growth Capital expands team
Aberdeen Asset Managers Growth Capital has made three appointments: Andrew Symmonds joins as a portfolio manager within the portfolio management team; Atul Devani joins as a consultant to the South East Growth Capital team and Kimberly Martin joins as...
UK - Macquarie strengthens grip on UK communications sector with £1.9bn Airwave purchase
Macquarie is to acquire Airwave, the telecom network used by UK emergency services, from O2 in a ТЃ1.9bn deal. O2 is a subsidiary of Spanish telecom group Telefonica. The purchase by Macquarie was made through its Macquarie European Infrastructure Fund...
UK - General Atlantic to float Xchanging valuing it at £500m
General Atlantic is to float portfolio company Xchanging, an outsourcing and processing portfolio company. The IPO is expected to value the group at approximately ТЃ500m with an indicative share price range of 210-240p per share. It is understood that...
UK - Octopus backs novelty confectionary business with £5m of expansion capital
Octopus Investments has backed Sweet Cred Ltd, a branded childrenтs novelty confectionery business, with ТЃ5m expansion capital financing. Octopus was introduced to the deal by Acanthus, a London-based corporate finance firm. Based in Sidcup, Kent, Sweet...
AUSTRIA - capiton exits Trenkwalder Personaldienste
caption AG has sold its stake in temporary staffing company Trenkwalder Personaldienste AG to the Trenkwalder Private Foundation. The transaction value has not been disclosed. caption had acquired a minority stake in Trenkwalder at the beginning of 2003....
UK - Brightstation Ventures backs internet fashion network with £1m
Brightstation Ventures has provided Osoyou.com, an internet-based fashion social network start-up with ТЃ1m of funding. The website is due to launch this summer and will compete with the likes of Conde Nast's stylefinder.com.
GERMANY - Advent International recaps Vinnolit
Advent International has completed a EUR 495m refinancing of German chemicals company Vinnolit. Dresdner Kleinwort has been mandated as sole bookrunner to arrange the senior debt facilities. The refinancing has been driven by the Vinnolit’s continuous...
GERMANY - GANYMED receives EUR 33.7m financing
GANYMED Pharmaceuticals AG has closed an EUR 33.7m series C financing round led by Venture Incubator Partners. Other investors committing to this round are Future Capital, Ingro Finanz, LVVW, MIG, Nextech, ONC Partners, Varuma and a consortium of Swiss...
UK - Aberdeen zooms in on CCTV investment
Aberdeen Asset Managers Growth Capital has backed the BIMBO of Camwatch Ltd, a CCTV monitoring company. Aberdeen and the management team provided equity funding as part of a ТЃ6.8m investment package involving debt supplied by Barclays and Royal Bank...
UK - TVM Capital leads EUR 15.26m round for Azea Networks
TVM Capital has led the EUR 15.26m series-D funding round for Azea Networks, a submarine optical network solution specialist. Previous investors Accel Partners and Atlas Venture also participated in the round.
SPAIN - Pan-European houses to race for Codere
The deadline for offers for the 49.9% stake of Codere is tomorrow. Reportedly, pretty much every pan-European house based in Spain has demonstrated interest in the gambling business. Permira, Apax, Texas Pacific Group, Carlyle and BC Partners are all...
UK - Lion Capital appoints Mary Minnick as partner
Lion Capital has announced that Mary Minnick will be joining the firm as a partner in May. Minnick comes from The Coca-Cola Company where she has been for 23 years, having had world-wide responsibilities in general management, strategy, innovation, marketing,...
NL - Permira-owned Nutrilux acquires Provimi from CVC and PAI Partners
Following the announcement in January that Permira was to acquire animal feed producer Provimi from CVC Capital Partners and PAI Partners, clearance has now been received.
NL - CVC and AlpInvest exit entire shareholding in Wavin
Wavin, a provider of plastic pipe systems and solutions, has announced that CVC and AlpInvest have sold their entire shareholding in the company in a block trade to ABN AMRO Rothschild and Fortis Bank. The transaction represents approximately 45.65%...
NL - Doughty Hanson to acquire Norit from Gilde Buy Out Partners
Doughty Hanson has announced that it is likely to reach a final agreement with Gilde Buy Out Partners regarding the sale of Norit. Gilde currently owns a 70% stake in the firm and is understood to have acquired the firm in 2003 for around EUR 150m. No...
NL - Cordys completes EUR 60m equity financing round
Cordys Holding BV, a provider of industry-leading business process management suite (BPMS) enterprise software, has announced the successful completion of a $ 80m (cEUR 60m) financing round. Argonaut Private Equity led the round with an investment of...